HomeSend launches services to Telesom

Released 07:00 09-Jul-2013

RNS Number : 8454I

eServGlobal Limited

09 July 2013

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eServGlobal Limited (eServGlobal or the "Company")

HomeSend launches services to Telesom

Paris: 9 July 2013

eServGlobal (LSE: ESG & ASX: ESV), a global telecoms software vendor specialising in Mobile Money and Value-Added Services and their strategic business partner, BICS, a leading global provider of international carrier services and a pioneer in the mobile financial services market, announced today the launch of HomeSend remittance services to Telesom, the leading mobile network operator in Somaliland.

Telesom operates a successful mobile money program in Somaliland called Telesom ZAAD. Launched in 2009, Telesom ZAAD quickly gained traction and is currently used by over 40% of Telesom's customers. Telesom ZAAD is one of the 14 GSMA Mobile Money Sprinters and is recognised as one of the most successful mobile money services in the world.

Formal banking infrastructure in Somaliland is extremely limited and the ZAAD mobile money service was launched with the specific objective to bring financial inclusion to Somaliland and to bring the informal economy into the formal space.

The World Bank's Global Financial Inclusion Database (Findex) identified Somalia as one of the most attractive mobile money markets: 26% of the population reported using mobiles to pay bills, which is the highest rate in the world, and 32% to send and receive money. Most of this mobile money activity has been driven by Telesom ZAAD.

The launch of remittance services with HomeSend will enable Telesom ZAAD users to receive money transfers sent directly to their mobile wallets from their loved ones overseas. The Somaliland Government identifies remittances and the diaspora community as playing an important role in supporting and reconstructing the country. Most of the diaspora community live in Western Europe and the Gulf countries.

Paolo Montessori, eServGlobal CEO & Managing Director, commented, "This announcement underlines the strength and reach of our commitment to Africa and to the unbanked community. With over 300 million users in Africa currently under contract coverage, we are working to swiftly deploy these services and launch new corridors, putting international money transfer within the reach of users across the continent."

HomeSend has a leading footprint in Africa, encompassing almost all leading operator groups on the continent.

HomeSend is a service offered by BICS, its strategic business partner, based on eServGlobal technology.

About eServGlobal

eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 90 customers in over 65 countries.

The international remittance service HomeSend®, based on eServGlobal technology and offered by our strategic business partner BICS, is the market leader in mobile-to-mobile multilateral money transfer.

eServGlobal also offers a comprehensive suite of sophisticated, revenue generating Value-Added Services to engage subscribers in a dynamic manner. These services can be seamlessly integrated with our mobile money portfolio to extend loyalty and promotion offers.

BICS delivers best-in-class international wholesale solutions to any communication service provider worldwide. Through its Mosaic portfolio, a comprehensive, flexible and innovative suite of solutions designed to be used individually, or collectively, BICS meets the existing and future requirements of the global telecoms industry.

Our passionate and creative teams located in Brussels, Bern, Dubai, Singapore and New York, continuously strive to provide our customers with the highest levels of quality, reliability and interoperability enabling them to maximise their end-user value.

With our successful consolidation strategy, and a continuing focus on technological advancement and innovation, we have achieved a world-leading position in the international Voice and Mobile Data markets.

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